Proficio Capital Partners LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Proficio Capital Partners LLC bought a new position in FedEx Co. (NYSE:FDX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 199,284 shares of the shipping service provider’s stock, valued at approximately $56,065,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after buying an additional 67,502 shares in the last quarter. Franklin Resources Inc. grew its position in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after buying an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after buying an additional 13,093 shares in the last quarter. Finally, Sentry LLC grew its position in shares of FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after buying an additional 5,404 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

FedEx Trading Up 1.0 %

Shares of NYSE:FDX opened at $258.62 on Friday. FedEx Co. has a 52-week low of $239.07 and a 52-week high of $313.84. The stock has a market cap of $62.29 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.11 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $269.04 and a 200-day moving average price of $277.52.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the business posted $3.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.13%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group increased their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and dropped their price target for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company raised their price objective on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.